How long will borrowers have to wait for the next RBA rate cut? | The Business | ABC

In a surprise move, the Reserve Bank board has kept interest rates on hold at 3.85 per cent at its July meeting. The RBA's decision blindsided households, financial markets and most economists, who had expected an interest rate cut. The bank's governor hinted a cut at the central bank's next meeting in August if the ABS's upcoming quarterly inflation figures fall within its 2% to 3% target range. The central bank also revealed its unattributed voting split for the first time, with a minority (three out nine board members) voting for borrowing costs to be slashed. However, RBA governor Michele Bullock would not disclose which way she voted. While the RBA is staying on hold for now, there's a lot of economic uncertainty ahead. US President Donald Trump is ramping up trade tensions -- sending letters to countries across the world, dictating what level of tariffs their goods into America will face. #ABCBusiness Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2025-07-08/reserve-bank-cash-rate-on-hold-3-85-shock-july/105507308 ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC NEWS, click here: https://ab.co/2kxYCZY Watch more ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2 Like ABC NEWS on Facebook: http://facebook.com/abcnews.au Follow ABC NEWS on Instagram: http://instagram.com/abcnews_au Follow ABC NEWS on X (Twitter): http://twitter.com/abcnews Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia